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Waterway Industries had the following information in its financial statements for the years ended 2020 and 2021: Cash dividends for the year 2021 $ 10400

Waterway Industries had the following information in its financial statements for the years ended 2020 and 2021:

Cash dividends for the year 2021

$ 10400
Net income for the year ended 2021

92400
Market price of stock, 12/31/20

9
Market price of stock, 12/31/21

11
Common stockholders equity, 12/31/20

1610000
Common stockholders equity, 12/31/21

1983000
Outstanding shares, 12/31/21

167000
Preferred dividends for the year ended 2021

14200

What is the payout ratio for Waterway Industries for the year ended 2021?

17.3%

15.4%

11.3%

13.3%

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